Croatia to Sell HPB and Croatia Osiguranje

Politics ♦ Published: April 11, 2013; 12:02 ♦ (Vindobona)

Croatia’s seventh biggest bank and biggest insurance company will soon be privatized. The selling of the stakes is supposed to generate up to € 300m for the state budget.

Croatia to Sell HPB and Croatia Osiguranje / Picture: © HPB

From May on, Croatia’s center-left government is going to sell the majority shares of the Hrvatska poštanska banka (HPB) Croatia and biggest insurance company of the country, Croatia Osiguranje. Prime Minister Zoran Milanovic intends to keep the blocking minority. 51.46 % of HPB are going to be sold. However, at the current conditions only the book value of € 100m can be gained.…